KOSDAQ Association President Jang Kyung-ho drives KOSDAQ deregulation

Suggestions for improvement of the internal accounting management system and the Law on Punishment for Severe Accidents
Induce investment by improving taxation such as lower inheritance and gift tax

On the 16th, the new chairman of the KOSDAQ Association, Jang Kyung-ho, is holding an online press conference.  (Photo = Courtesy of KOSDAQ Association)
On the 16th, the new chairman of the KOSDAQ Association, Jang Kyung-ho, is holding an online press conference. (Photo = Courtesy of KOSDAQ Association)

<대한금융신문=강신애 기자> The KOSDAQ Association plans to take a drive to ease KOSDAQ regulations this year.

On the 16th, the new chairman of the KOSDAQ Association, Jang Kyung-ho, held a press conference to commemorate his inauguration and expressed his ambitions.

Chairman Jang selected’Strengthening policy functions to improve the management environment and promoting deregulation’ as a key project this year.

Chairman Jang said, “Last year, 1510 new and reinforced various regulations such as the corona-related business risk and the 3rd Corporate Regulation Act were a year when a lot of bad news broke out in the business environment. We will continue to promote the business,” he said.

First, the KOSDAQ Association plans to propose system improvement related to the enforcement of the external audit law. Currently, KOSDAQ-listed companies point out that standard audit hours and internal accounting management systems are excessive.

In addition, the policy is to make active recommendations to the policy authorities by preparing measures to rationalize and supplement systems such as the Severe Accident Punishment Act, the Class Action System, and the punitive damage compensation system, as well as the investigation of the impact of the amendment of the Commercial Act and suggestions for improvement.

The KOSDAQ Association is also promoting tax improvement to revitalize the KOSDAQ market.

In detail, we support the succession of the family business by reducing the inheritance tax and gift tax, and improving the follow-up management system, and recommending that the taxation of stock options be deferred to’disposition’ to support the securing of professional manpower of KOSDAQ companies.

In addition, Chairman Jang plans to recommend the introduction of a business loss reserve system for newly listed KOSDAQ SMEs. The goal is to enable excellent private companies to be listed on the KOSDAQ market.

Chairman Jang said, “In order to revitalize the KOSDAQ market, various incentives must be prepared to attract unlisted superior companies to the KOSDAQ market. “He said.

Finally, he said that he would also ask for an active KOSDAQ investment in pension funds.

Chairman Jang said, “We will solve the problems that cause unlisted companies to avoid listing in Korea, such as introducing a management right defense system and resolving excessive regulations on listed companies.” “Development of financial investment products using KOSDAQ-related indices. The investment environment should also be improved,” he emphasized.

Meanwhile, in order to improve such policies, the KOSDAQ Association will continue to hold meetings and seminars with the National Assembly and government ministries to play a bridging role in policies related to KOSDAQ.

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